HC Deb 01 December 1919 vol 122 c63W
Mr. HARTSHORN

asked the President of the Board of Trade if he will state the total profits, including royalties, made by the British coal-mining industry in each of the years 1908 to 1918, inclusive, and during the first six months of the present year; and if he will state for each year how the aggregate profits were divided between royalty-owners, mine-owners, and the Government, respectively?

Mr. CHAMBERLAIN

Owing to the fact that Income Tax is calculated on a system of averages, precise figures are not available for the periods mentioned. The following computation has, however, been made:

COAL MINES (including Coking, etc.) ASSESSED ON THE FIVE YEAR AVERAGE.
Year. Estimated annual statutory profits, less wear and tear. Net estimated royalties after deduction of Income Tax and Mineral Rights Duty. Estimated taxes. Balance.
Mineral Rights Duty. Excess Profits Duty. Coal Mines excess payments. Income Tax. Total.
£ £ £ £ £ £ £ £
1908–09 21,430,000 5,130,000 — — — 710,000 710.000 15,590,000
1909–10 14,700,000 4,909,000 270,000 — — 930,000 1,200.000 8,591,000
1910–11 15,100,000 4,999,000 275,000 — — 980,000 1,255.000 8,846,000
1911–12 13,140,000 5,279,000 290,000 — — 1,000,000 l,290,000 6,571,000
1912–13 22,350,000 4,852,000 270,000 — — 980,000 1,250,000 16,248,000
1913–14 26,980,000 5,256,000 290,000 — — 970,000 1,260,000 20,464,000
1914–15 18,960,000 4,866,000 270,000 — — 1,460,000 1,730,000 12,364,000
1915–16 31,160,000 4,343,000 295,000 2,250,000 — 2,750,000 5,295,000 21,522,000
1916–17 46,590,000 4,025,000 435,000 8,250,000 — 5,290,000 13,975,000 28,590,000
1917–18 34,210,000 3,824,000 395,000 7,150,000 749,000 6,620,000 14,914,000 15,472,000

The above figures are given subject to the following reservations:

  1. 1. All the figures are necessarily estimates.
  2. 2. The profits figures exclude the small proportion of mines which are carried on as subsidiary to the main business of the proprietors.
  3. 3. The profits figures include coking and by-product profits.
  4. 4. The amount of Income Tax stated is tax at the full normal rate on the profits liable to Income Tax and is not the amount of tax finally receivable by the Exchequer. So far as profits ultimately reach the hands of individuals the normal tax shown will be subject to diminution for reliefs due, and to increase by the levying of Super-tax, both being dependent upon the total income of the recipient of the profits.